ENOVIS CORP Reports 8.8% Increase in Total Revenue for Third Quarter of FY2023
November 21, 2023
☀️Earnings Overview
ENOVIS CORP ($NYSE:ENOV) released their financial results from the third quarter of FY2023 on November 7 2023, with total revenue of USD 417.5 million, an 8.8% increase from the previous year. Unfortunately, their net income was reported at USD -2.9 million, considerably lower than the -66.6 million reported in the same quarter of the prior year.
Analysis
GoodWhale has conducted an analysis of ENOVIS CORP‘s finances and based on the Star Chart the company is classified as ‘elephant’. This indicates that it is strong in assets but weak in dividend and growth. The analysis also revealed that ENOVIS CORP has a medium level of profitability and is rich in assets after deducting off liabilities. ENOVIS CORP also has a high health score of 8/10, which shows that it is capable to pay off debt and fund future operations. This means that investors looking for steady returns and security may be interested in ENOVIS CORP. Furthermore, those investors who want to invest in a company that has a strong financial standing, good liquidity and can pay its debt may also consider ENOVIS CORP. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Enovis Corp. More…
| Total Revenues | Net Income | Net Margin |
| 1.66k | -74.83 | -7.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Enovis Corp. More…
| Operations | Investing | Financing |
| 30.61 | -220.17 | 166.64 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Enovis Corp. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.4k | 959.18 | 63.04 |
Key Ratios Snapshot
Some of the financial key ratios for Enovis Corp are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -19.0% | -3.3% | -3.4% |
| FCF Margin | ROE | ROA |
| -6.0% | -1.0% | -0.8% |
Peers
Enovis Corp, a leading provider of optoelectronic products and services, competes with Beyond Medical Technologies Inc, Hefei Meyer Optoelectronic Technology Inc, and Optorun Co Ltd in the optoelectronic market. Enovis Corp has a strong product portfolio and offers a wide range of optoelectronic products and services to its customers. The company has a strong R&D team and a state-of-the-art manufacturing facility. Enovis Corp is committed to providing the best products and services to its customers and has a strong customer base. The company has a strong brand and is well-positioned in the optoelectronic market.
– Beyond Medical Technologies Inc ($OTCPK:DOCKF)
The company’s market cap is 576.96k as of 2022 and its ROE is -135.24%. The company is engaged in the development, manufacture and sale of medical devices and supplies.
– Hefei Meyer Optoelectronic Technology Inc ($SZSE:002690)
Hefei Meyer Optoelectronic Technology Inc is a Chinese company that manufactures optoelectronic products. Its products are used in a variety of industries, including telecommunications, automotive, and consumer electronics. The company has a market cap of 22.2B as of 2022 and a return on equity of 16.74%.
– Optorun Co Ltd ($TSE:6235)
Optorun Co Ltd is a Japanese company that manufactures and sells optical products. The company has a market cap of 89.2 billion as of 2022 and a return on equity of 12.09%. The company’s products include lenses, cameras, and other optical products.
Summary
ENOVIS CORP saw an 8.8% increase in total revenue for the third quarter of FY2023, reaching USD 417.5 million. On the flip side, net income decreased significantly from the previous year, dropping from -66.6 million to -2.9 million. Despite the decrease in net income, stock price rose on the news, indicating positive investor sentiment. Investors may want to consider ENOVIS CORP as potential investment opportunity due to its higher revenue and future growth prospects, but should also take into account the lower net income when assessing the risk-reward ratio.
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